The Global Construction Aggregates Market is Driven by Growing Infrastructure Development
The global construction aggregates market is primarily engaged in the production of crushed stone, sand, and gravel. Construction aggregates are basic construction materials used in building pavements, bridges, tunnels, and other infrastructure projects. The market is estimated to witness immense growth owing to rapid urbanization and global infrastructure development initiatives.
The Global Construction Aggregates Market is estimated to be valued at US$ 608.36 Bn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the construction aggregates market are Sika Ag, Trelleborg Ab, Henkel Ltd., Flexcon Company, Inc, Nitto Denko Corporation, Pyrotek Inc., Vibratec, Autoneum, Rousch, Avery Dennison Corporation, American Acoustical Products, Polymer Technology Inc. Soundown Corporation, Heathcote Industrial Plastics, Vibracoustic Gmbh, Megasorber Pty Ltd, and 3M.
The growing infrastructure needs of developing countries are fueling the demand for construction aggregates. Additionally, government initiatives towards urbanization and smart city projects are also propelling the growth of the Construction Aggregates Market Demand With growing demand, major players are expanding their presence across different geographies through acquisitions and partnerships to gain a competitive edge in the market.
The global construction aggregates market is anticipated to witness substantial gains owing to the growing demand for aggregates in infrastructure development projects. Government investments in initiatives such as road construction, housing projects, and commercial buildings will continue driving the aggregates consumption. According to estimates, over half of the aggregates produced annually are used in infrastructure projects worldwide. Initiatives such as the Belt and Road Initiative (BRI) aimed at improving connectivity will also notably contribute to market expansion. Major focus on boosting transportation and logistical infrastructure will remain crucial market growth drivers.
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